The reliable identification of deformation and fracture behaviors of titanium alloys is essential for accurate numerical simulation in sheet metal forming, cutting process and crash. In this study, an inverse method is proposed to identify both strain hardening and fracture behavior of titanium alloys by a hybrid experimental-finite element analysis. Uniaxial and notched tensile specimens are tested on the additively manufactured and cold rolled sheet Ti6Al4V alloys. The distributions of displacement and strain on the specimen surface during the loading are measured by digital image correlation method. An identification strategy, considering the stress–strain curve, surface strain evolution and variation of specimen width, is proposed to identify the strain hardening model parameters at large strain range. Finite element simulations are performed to update the model parameters by using the iterative inverse method. The parameters of fracture model are determined through experiments on tensile specimens in combination with numerical simulation. The experimental and simulation results show the feasibility and effectiveness of the proposed identification method, that it can be further used to characterize the plastic and fracture behaviors of other metallic materials in practice.